Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
